London construction group sees revenues bounce back following lockdown dip

A UK construction materials group has announced that its revenues have bounced back to normal levels following disruption caused by lockdown.

SigmaRoc, headquartered in London, saw revenues drop to 60 per cent during April, but reported that they were back up to 98 per cent in May.

For the five month period ended 31 May, the company reported unaudited revenues of £42m, representing 84 per cent of revenues recorded for the same period in 2019 on a like-for-like basis.

The firm said that although it would be unable to provide accurate guidance for the remainder of the year, the resilience of the business leaves it “confident” that it will maintain growth.

David Barrett, chairman of SigmaRoc, commented: “I am very pleased to be reporting relatively strong results in a time of great uncertainty.

“The whole economy has felt the heavy impact the COVID-19 crisis has brought with it and so have we.

“However, our business model and management team have allowed us to respond quickly and effectively.

“I believe this further demonstrates the strength of our strategy and its implementation.”

Max Vermorken, CEO of SigmaRoc, added: “Firstly, I would like to thank all of the group’s team members, who have shown exemplary drive and determination in the face of uncertainty and difficulty.

“Secondly, I would like to express my gratitude to our customers and suppliers who continued to support their local economies while keeping their staff safe.

“Lastly, I am proud of the flexibility of the SigmaRoc group in the face of fast changing conditions.

“Being a decentralised, local and entrepreneurial group allows us to be quick in our response in each area of our business.”

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